Mainsail Asset Management LLC Sells 82 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mainsail Asset Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,735 shares of the electric vehicle producer’s stock after selling 82 shares during the quarter. Tesla comprises approximately 0.7% of Mainsail Asset Management LLC’s portfolio, making the stock its 18th biggest holding. Mainsail Asset Management LLC’s holdings in Tesla were worth $968,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Motley Fool Asset Management LLC increased its holdings in Tesla by 2.1% during the 1st quarter. Motley Fool Asset Management LLC now owns 149,727 shares of the electric vehicle producer’s stock worth $38,803,000 after acquiring an additional 3,008 shares during the period. Operose Advisors LLC increased its holdings in shares of Tesla by 31.2% in the first quarter. Operose Advisors LLC now owns 1,102 shares of the electric vehicle producer’s stock worth $286,000 after purchasing an additional 262 shares during the period. Linscomb Wealth Inc. raised its position in shares of Tesla by 4.5% in the first quarter. Linscomb Wealth Inc. now owns 4,165 shares of the electric vehicle producer’s stock worth $1,079,000 after buying an additional 181 shares in the last quarter. First American Trust FSB boosted its stake in Tesla by 7.2% during the first quarter. First American Trust FSB now owns 1,534 shares of the electric vehicle producer’s stock valued at $398,000 after buying an additional 103 shares during the period. Finally, SouthState Corp grew its position in Tesla by 174.4% during the first quarter. SouthState Corp now owns 8,557 shares of the electric vehicle producer’s stock worth $2,218,000 after buying an additional 5,439 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 2.3%

TSLA opened at $329.61 on Monday. Tesla, Inc. has a one year low of $194.67 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The business has a 50 day simple moving average of $318.68 and a two-hundred day simple moving average of $306.71. The firm has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.53, a PEG ratio of 11.46 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Tesla’s revenue was down 11.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 602,724 shares of company stock valued at $214,176,831 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Benchmark reissued a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Piper Sandler restated an “overweight” rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Finally, Roth Mkm cut their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $303.31.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.